zzdcar
Home
/
Reviews
/
Automobile information
/
Hybrid vehicle sales reach U.S. record, but EV sales drop in third quarter
Hybrid vehicle sales reach U.S. record, but EV sales drop in third quarter-December 2024
2024-12-09 EST 17:12:00

The share of electric and hybrid vehicle sales continued to grow in the U.S. in the third quarter, the Energy Information Administration (EIA) reported this month.

Taken together, sales of purely electric vehicles (EVs), hybrids, and plug-in hybrids (PHEVs) represented 19.6% of total light-duty vehicle (LDV) sales last quarter, up from 19.1% in the second quarter.

Recommended Videos But the increase was mostly led by sales of hybrid vehicles, which represented 10.8% of U.S. light-duty vehicles sales in the third quarter, a record, according to the EIA.

Please enable Javascript to view this content Meanwhile, EV sales decreased, with their share of the LDV market falling from 7.4% in the second quarter to 7% last quarter.

Related EVs remain popular in the luxury vehicle segment, representing 35.8% of U.S. LDV luxury sales. But as a share of total EV sales, luxury EVs have seen their sales fall to their lowest level since 2017, as non-luxury EV sales have increased, EIA says.

Nonetheless, 70.7% of EVs sold in the U.S. in the third quarter were luxury vehicles, while only 10.3% of hybrid vehicles sold were in the luxury segment.

In the U.S. EV market, Tesla still dominates in sales, led by its Model Y and Model 3. The recently launched Cybertruck outsold its large truck competitors, such as the Rivian R1S, Rivian R1T, Ford F150 Lightning, Chevy Silverado EV, Hummer EV, and GMC Sierra EV.

The average purchase price for a new EV, before any incentives, was $56,351 at the end of the third quarter, or about 16% above the industry average price, according to Cox Automotive.

Besides price considerations, drivers are giving hybrid vehicles high marks this year. Many hybrids were found to be the most reliable vehicles on the market, according to a Consumer Reports survey. As a category, hybrids are now considered by drivers to be as reliable as non-hybrid gas cars.

The EIA, citing data from Wards Intelligence, reported that 78.9% of total EVs sold in the U.S. were produced in North America, while 7.3% were produced in South Korea, and 5.3% were made in Germany.

In order to quality for the $7,500 tax incentive on the purchase of a new EV, manufacturers must comply with domestic content requirements for final assembly, battery components, and critical mineral inputs, the EIA says.

The incoming Trump administration is reportedly planning to end the tax incentive when Trump takes office early next year.

   Editors Recommendations

U.S. EVs will get universal plug and charge access in 2025 Costco partners with Electric Era to bring back EV charging in the U.S.

Comments
Welcome to zzdcar comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Automobile information
Honda Fit e:HEV Facelifted for 2024
Honda Fit e:HEV Facelifted for 2024
The Honda Fit e:HEV facelift has arrived in South Africa. Here’s a look at how much it costs and what has been updated. The Honda Fit e:HEV is the brand’s most frugal model offered locally in South Africa. Combining the legendary practicality with an updated and more powerful engine,...
Dec 22, 2024
Mercedes-AMG CLE53 Announced with 330 kW
Mercedes-AMG CLE53 Announced with 330 kW
The high-performance version of the stylish coupe has been announced. Meet the Mercedes-AMG CLE53 with a hybrid 6-cylinder turbo engine! We’ve already seen the Mercedes-Benz CLE, a coupe that blends the C-Class and E-Class in one very pretty package. Now there’s the Mercedes-AMG CLE53, which brings a whole lot...
Dec 22, 2024
These 23 vehicles each just had their best sales month of 2023
These 23 vehicles each just had their best sales month of 2023
November 2023 saw SA’s new-vehicle market suffer its biggest losses since early 2021. But, fascinatingly, as many as 23 nameplates registered their best performances of the year so far… In November 2023, South Africa’s new-vehicle market suffered its most significant year-on-year losses since the beginning of 2021, with sales...
Dec 22, 2024
Toyota Land Cruiser 70 Series: V8’s retirement in sight
Toyota Land Cruiser 70 Series: V8’s retirement in sight
While the revised Toyota Land Cruiser 70 Series range will retain the 4.5-litre V8 for now, the big turbodiesel’s retirement date is on the horizon, according to our sources. Here’s how long it still has… We’ve already brought you early details of the refreshed Toyota Land Cruiser 70 Series...
Dec 22, 2024
New Fiat Titano revealed as Peugeot Landtrek twin
New Fiat Titano revealed as Peugeot Landtrek twin
The wraps have come off the new Fiat Titano 1-tonne bakkie, which appears to be little more than a rebadged Peugeot Landtrek. But could it end up being assembled in SA? This is the new Fiat Titano 1-tonne bakkie. Look familiar? Well, that’s because it’s effectively a rebadged Peugeot...
Dec 22, 2024
All-New Suzuki Swift: What to expect
All-New Suzuki Swift: What to expect
The fourth-generation Suzuki Swift has been revealed and we have some details on what’s to come. The current-shape third-generation Suzuki Swift is approaching the end of its current lifecycle, with this generation first landing in SA back in 2018. The Japanese carmaker has been hard at work developing the...
Dec 22, 2024
Copyright 2023-2024 - www.zzdcar.com All Rights Reserved